CoStar Group's (CSGP) Overweight Rating Reiterated at Stephens

Stephens restated their overweight rating on shares of CoStar Group (NASDAQ:CSGP - Free Report) in a report issued on Tuesday,Benzinga reports. Stephens currently has a $103.00 price objective on the technology company's stock.

A number of other equities analysts have also commented on CSGP. Citigroup lowered their price target on shares of CoStar Group from $90.00 to $88.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. BMO Capital Markets reduced their price objective on shares of CoStar Group from $78.00 to $75.00 and set a "market perform" rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. reduced their price objective on shares of CoStar Group from $108.00 to $99.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Needham & Company LLC reiterated a "buy" rating and set a $100.00 price objective on shares of CoStar Group in a research note on Monday, December 9th. Finally, William Blair reiterated an "outperform" rating on shares of CoStar Group in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $88.00.

CoStar Group Stock Performance

NASDAQ:CSGP traded down $1.54 during mid-day trading on Tuesday, reaching $76.79. 4,667,016 shares of the company's stock were exchanged, compared to its average volume of 2,816,777. CoStar Group has a one year low of $68.26 and a one year high of $100.38. The firm has a market capitalization of $31.48 billion, a PE ratio of 219.40 and a beta of 0.87. The business's fifty day simple moving average is $73.83 and its two-hundred day simple moving average is $75.39. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96.

CoStar Group (NASDAQ:CSGP - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.22 EPS for the quarter, hitting analysts' consensus estimates of $0.22. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. The business had revenue of $709.40 million for the quarter, compared to analyst estimates of $703.00 million. Analysts anticipate that CoStar Group will post 0.94 earnings per share for the current fiscal year.

CoStar Group announced that its board has authorized a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

Insider Activity

In related news, insider Michael J. Desmarais sold 5,500 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the transaction, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CSGP. Hopwood Financial Services Inc. bought a new position in CoStar Group in the 4th quarter valued at approximately $25,000. ORG Partners LLC raised its holdings in CoStar Group by 534.8% in the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company's stock valued at $30,000 after buying an additional 353 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in CoStar Group in the 4th quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in CoStar Group during the 4th quarter worth approximately $32,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings in CoStar Group by 414.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 499 shares of the technology company's stock worth $36,000 after purchasing an additional 402 shares during the last quarter. Institutional investors own 96.60% of the company's stock.

CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.